Coventry City's owners Sisu have today said they will drop legal action over the Ricoh Arena row if the council supports and enables the development of a stadium for the club.

The conditions for the London hedge fund to drop legal action were laid out in a statement released to the press today (March 13).

It is the first time the club's owners have spoken on the issue since 2016.

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The statement says Sisu "would rather not have to continue with its legal challenge" over Coventry City Council's sale of the Ricoh Arena to Wasps in 2014, but any agreement would have to contain terms for:

a stadium development supported by the council in Coventry with enabling development on reasonable terms

a medium term interim arrangement with Wasps on commercially acceptable terms to stay at the Ricoh Arena until CCFC's own stadium is complete

The statement adds that as neither of those two things have materialised, Sisu has "no option but to continue with its challenge".